1 ACCTMIS 4500 AUTUMN 2012 QUIZ 1 – SOLUTIONS (ANSWERS IN BOLD) 30 POINTS Instructions: Circle the letter for the answer you select. True/False and Multiple Choice are 2 points each. Short Answer Questions are 3 points each 1. Auditing services and attestation services are the same. A. True B. False 2. Why do auditors generally use a sampling approach to evidence gathering? A. Auditors are experts and do not need to look at much to know whether the financial statements are
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feverish as the terrible ocean‚ which is buffeting the doomed raft itself. • It is a painting of tumultuous bodies‚ reaching out‚ turning‚ twisting‚ and contorting‚ much seemingly in desperate conflict with each other‚ which coheres as if by some miracle. • There is so much of it‚ and it engulfs the eye to such an extent – it is almost as if the eye (mimicking the raft itself) seems to drown in it‚ as if the ocean is threatening to upend the raft in our direction so that this horrifying mess will shortly
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A. Define audit risk. Audit risk is the risk that the auditors may unknowingly fail to appropriately modify their opinion on financial statements that are materially misstated. B. Describe its components of inherent risk‚ control risk‚ and detection risk. The risk of material misstatement may be separated into two components-inherent risk and control risk. Both inherent risk and control risk exist independently of the audit of financial statements‚ or in other words‚ the risk of misstatement
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events would reveal poor quality of care and lack of awareness for patient safety that Nightingale hospital provides to its patients. A readiness review was conducted of Nightingale Hospital’s Universal Protocol in preparation for a Joint Commission audit. The Joint Commission standards that were a part of this review consist of: UP.01.01.01; Conduct a pre-procedure verification process‚ UP.01.02.01; Mark the procedure site‚ and UP.01.03.01; A time-out is performed before the procedure. Nightingale
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romanticism and political inspire painting. A large painting or life-size painting that describe a situation from consequence in ruined of the shore in the coast of today’s Mairitania on 1816. This painting interpret the situation of the people that build a raft and died. The survivors resist and experience hunger and thirsty ‚ bit by bit deliver their life from their death. They fight for each other even they are companions and comrades ‚ the weakest will die . The structure of the painting build up into
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“Accreditation can be defined as a process in which an entity external to the organization providing goods or services evaluates that organization against a set of predetermined requirements or desirable attributes and publicly attests to the results” (p.495); however‚ licensure involves individual professional. Organization accreditation in the USA is done by the private sector bodies and it is voluntary. On the contrary
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this report is to develop an audit plan using the 2007/2008 annual reports of the WesFarmers. This report will provide an understanding of the underlying concepts of an overall audit strategy. This strategy will bring forward the direction and scope of the WesfFarmers audit plan. This report will address five major points these are as follows: • Understanding the entity and its environment • Making preliminary judgements about materiality levels • Considering the audit risk • Understanding internal
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Mission of DWRA Radio Assumption To hone the communication skills of Assumption College’s students by providing them a venue wherein they can learn to speak with confidence‚ broadcast timely and interesting news‚ express themselves differently through the music they play‚ and at the same time‚ learn the works behind the radio scene. Vision of DWRA Radio Assumption To become a distinct organization that is actively involved in helping improve the communication skills
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Electromagnetism is the study of the physical interaction that happens among electrically charged particles. This electromagnetic force is typically apparent in magnetic fields‚ electric fields and sources of light. This electromagnetic force that occurs between particles is one of the four ultimate interfaces in nature. On April 8‚ 1911 in Leiden‚ Heike Kamerlingh Onnes discovered Superconductivity. Superconductivity is the phenomenon when a material cooled below a certain temperature emits no electromagnetic
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Heart-Healthy Insurance Information Security Policy You are the manager of the information security analyst team for a large health insurance company. Your supervisor has asked you to review and provide recommendations for changes to the company’s information security policy. The intent of this review is to ensure that the policy complies with current regulatory requirements‚ obtains the benefits of industry specific standards‚ utilizes a recognized framework‚ is relevant for your company‚
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